Union Budget 2021-22: National Research Foundation outlay to be Rs. 50,000 crore, over 5 years

New Delhi: Finance Minister Nirmala Sitaraman presented the Union Budget for the year 2021-22 in the lower house of the parliament on Monday (February 1).

Finance Minister Nirmala Sitharaman proposed an outlay of Rs. 50,000 crore for the National Research Foundation spread for the next five years. Finance Minister Nirmala Sitharamn said, "It will ensure that the overall research ecosystem of the country is strengthened with focus om identified national-priority thrust areas."

Rs. 1,500 crore opposed for scheme to promote Digital Modes of Payments. Finance Minister Nirmala Sitharaman informed the house that there has been a manifold increase in digital payments in the recent past and there was a need to take steps to carry forward this momentum. Rs 1,500 crore has been proposed for a scheme that will provide financial incentive to promote digital modes of payment and further boost digital transactions.

National Language Translation Mission (NTLM)

A new initiative called National Language Translation Mission (NTLM) has been proposed that will digitise the wealth of governance-and-policy related knowledge on the Internet and be made available in major Indian languages.

Indias’ Space Sector

The Minister informed the house that New Space India Limited (NSIL), a PSU under the Department of Space, will execute the PSLV-CS51 launch, carrying the Amazonia Satellite from Brazil, along with a few smaller Indian satellites. Four Indian astronauts are also being trained on Generic Space Flight aspects, in Russia for the Gaganyaan Mission, slated to be launched for December 2021.

Deep Ocean Mission

To better understand the realm of Oceans Smt. Sitharaman proposed to launch a Deep Ocean Mission with a budget outlay of more than Rs 4,000 crores, over five years. This Mission will cover deep ocean survey exploration and projects for the conservation of deep sea bio-diversity.